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 Post subject: August 23rd Friday - Futures, Forex, Stocks and ETFs
 Post Posted: Fri Aug 23, 2013 4:19 pm 
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Joined: Tue Dec 16, 2008 1:02 am
Posts: 3326
Location: Canada
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
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##TheStrategyLab (located on the Freenode IRC network) is free along with being a serious professional trading chat room for traders using WRB Analysis (e.g. Contracting Volatility, WRB, WRB Hidden GAP, WRB Zone, WRB profit targets, Key Market Events) by itself or merged with other trade methods to improve the performance of those other trade methods regardless if you're a position trader, swing trader or day trader. Therefore, you're welcome to use the chat room to ask questions about WRB Analysis, post real-time price action trading analysis involving WRB Analysis merged with your own trade methods, post real-time trades or talk about general market issues impacting today's price action involving stocks, futures, exchange traded funds or forex currencies. In addition, we welcome all traders (beginners, experience, part-time, full-time) that are merging WRB Analysis with their trade methods or using WRB Analysis to help develop a better understanding of the price action (market context) they're trading.

##TheStrategyLab is primarily designed to only be a trade journal for documentation purposes so that members can have a real time stamp archive of their trades and their market commentaries of each trading day...giving them a better understanding of their broker statements from one trade to the next trade when they review their performance numbers on any given trading day in the past. Therefore, if you use our chat room...its highly recommended you post messages that reflect what you see in the price action on your monitors so that the chat room becomes your diary (journal) to correlate with trades on your broker statements.

Also, if you want ##TheStrategyLab chat room to be educational for you, ask questions instead of lurking (not participating in conversations). You can talk about anything related to price action analysis, trade execution, financial markets, economies or news impacting the markets in general.

Quote:
The chat room is only for traders learning or applying concepts of WRB Analysis. In addition, traders that use ##TheStrategyLab are required to post at least one WRB Analysis price action commentary, one real-time trade or one general trading related commentary per day they log-in to the chat room. Yet, if the trader decides to post real-time trades (simulator or real-money)...the trades must be clear (not ambiguous) entry price/exit price and position size. Traders that consistently log-in and not post any price action commentary involving WRB Analysis or post ambiguous trades will be KICKED (removed) from the chat room.

With that said, thanks for reading the trades, price action analysis or market commentaries that's below and we highly recommend you make reading of the logs a part of your trading routine because you will sometimes find useful market context information that's critical to understanding price action trading. To log into ##TheStrategyLab chat room that's located on the Freenode IRC network...please follow the instructions here at the FTCHAT Support Forum @ http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=5 or via the the instructions from the TSL Support Forum @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Attachment:
082313-Key-Price-Action-Markets.png
082313-Key-Price-Action-Markets.png [ 520.16 KiB | Viewed 272 times ]

click on the above image to view today's price action of key markets

Note: Trader conversations below may represent different chat rooms (e.g. ##TheStrategyLab, ##WRB_Analysis, ##VolatilityTradingTSL) that have been merged together at the end of the trading day.

Session Start: Fri Aug 23 07:08:00 2013
Session Ident: ##TheStrategyLab
[07:08:00] * Now talking in ##TheStrategyLab
[07:08:00] * Topic is 'Chat room only for traders using WRB Analysis (WRBs, WRB Hidden GAPs, WRB Zones) for day trading, swing trading or position trading. | WRB Analysis free study guide @ http://www.thestrategylab.com/tsl/forum ... 119&t=718'
[07:08:00] * Set by wrbtrader on Tue Feb 05 08:11:19
[07:08:00] ##TheStrategyLab url is http://www.thestrategylab.com/tsl/forum/
[08:59:18] <MattR_> Crude Oil CL Futures testing S area of 8:18-8:20 WRB HG.
[09:00:16] <MattR_> oops, make that Emini YM Futures
[09:05:43] <MattR_> Volatility Spike in Crude Oil CL Futures.
[09:07:23] <canaandog> good morning
[09:29:25] <TigermanTrader> gm all
[09:32:22] <ryangary> morning
[09:32:45] <ryangary> microsoft ceo to retire...big vol spike in nq
[09:43:39] <TigermanTrader> short iwm 102.90
[09:44:06] <TigermanTrader> not easy zone very noizy
[09:46:38] <TigermanTrader> exit IWM short @ 102.68 +22 ticks
[09:54:25] <TigermanTrader> price try to build a support now
[09:55:54] <TigermanTrader> short 102.61
[09:56:10] <wrbtrader> Shorts Emini TF @ 1031.20 -> medium size
[09:56:10] <TigermanTrader> seems support no keep
[09:56:25] <wrbtrader> bad entry
[09:56:38] <wrbtrader> I'm looking for a Houdini Escape
[09:56:41] <wrbtrader> 4 contracts
[09:58:12] <wrbtrader> Key Market Events today @ 1000am est
[09:58:13] <TigermanTrader> news in minutes
[09:58:17] <TigermanTrader> yep
[09:58:46] <TigermanTrader> exit iwm @ 102.65 -4ticks
[10:02:03] <TigermanTrader> short iwn 102.53
[10:02:19] <TigermanTrader> hope ti catch last burst of it
[10:03:28] <wrbtrader> Covered all Emini TF Short @ 1030.30 --> + 0.9
[10:03:41] <wrbtrader> WRB pt1 reached
[10:04:19] <MattR_> Big volatility spike in Gold GC Futures.
[10:04:21] <TigermanTrader> exit iwm short @ 102.52 + 1 tick
[10:06:21] <wrbtrader> Shorts Emini ES @ 1652.50 -> large size
[10:06:41] <wrbtrader> 20 contracts
[10:12:34] <wrbtrader> Covered all Emini ES Short @ 1654.50 --> - 2
[10:16:23] <wrbtrader> Long Emini ES @ 1655.50 -> large size
[10:16:45] <wrbtrader> no fill @ 1655.00
[10:17:24] <wrbtrader> 1653.75 :(
[10:17:38] <wrbtrader> another trade error :(
[10:17:46] <wrbtrader> two of them already this morning
[10:17:56] <wrbtrader> one in the Emini TF and now ES
[10:18:41] <wrbtrader> I'm looking for a Houdini Escape out of this trade
[10:19:05] <wrbtrader> that's almost a 2 point chaser :(
[10:19:56] <wrbtrader> Exited all Emini ES Long @ 1655.25 --> - 0.25
[10:20:11] <wrbtrader> volatility dried up...no chance for a WRB pt1 right now
[10:23:59] <wrbtrader> Shorts Emini ES @ 1654.25 -> large size
[10:24:11] <wrbtrader> 15+5 contracts
[10:24:54] <wrbtrader> back inside the range of the first ES trade (not good)
[10:25:24] <wrbtrader> nasty snap back
[10:27:44] <wrbtrader> Shorts Emini ES @ 1655.25 -> Add
[10:27:58] <wrbtrader> 10 added
[10:28:33] <wrbtrader> that's the price where the first entry should have been
[10:28:39] <wrbtrader> 1655.25
[10:29:36] <wrbtrader> volatility still declining
[10:31:27] <ryangary> cl spiking
[10:31:27] <wrbtrader> Covered 1/3 Emini ES Short @ 1654.50 --> + 0.75
[10:32:34] <wrbtrader> Dumped that add early because of what Crude Oil CL futures was doing...volatility spike
[10:32:56] <wrbtrader> needed to free up some capital just in case I wanted to trade Crude Oil CL futures
[10:33:19] <wrbtrader> so far today...my entries have been crap
[10:33:57] <ryangary> sorry if I screwed you up by mentioning cl....
[10:34:11] <ryangary> just saw it take off
[10:34:23] <ryangary> there it goes again
[10:35:17] <wrbtrader> Crude just going straight up...no entry signals :(
[10:35:47] <wrbtrader> Covered all Emini ES Short @ 1656.25 --> - 2
[10:36:12] <TigermanTrader> yeah bug spike on cl but no entry x me too
[10:36:14] <MattR_> wow, what on earth...
[10:36:35] <wrbtrader> Eminis basically range bound...bouncing up in down in a range of a few points whenever Crude and Gold spikes
[10:39:06] <wrbtrader> Long Emini ES @ 1656.00 -> large size
[10:39:19] <wrbtrader> 20+10 conatracts
[10:39:32] <wrbtrader> best entry of the day so far
[10:39:40] <wrbtrader> lets see if it pays
[10:40:47] <wrbtrader> snap back
[10:40:53] <wrbtrader> geeesh :(
[10:43:54] <wrbtrader> The top of that range is a pain
[10:44:31] <wrbtrader> I don't think it can break it on this "declining volatility"...
[10:44:53] <wrbtrader> It needs to pick up more volatility on its own or get it from another market that's spiking
[10:45:29] <wrbtrader> Gold GC volatility contraction...
[10:45:37] <wrbtrader> Crude Oil CL volatility starting to contract
[10:46:14] <wrbtrader> Euro volatility contracting
[10:46:27] <wrbtrader> Too many key markets volatility contracting at the same time...insync
[10:46:38] <wrbtrader> I'm now expecting a volatility spike in Emini ES futures
[10:46:53] <wrbtrader> tightning stop/loss protection
[10:48:53] <wrbtrader> Exited all Emini ES Long @ 1656.25 --> + 0.25
[10:48:57] <wrbtrader> :(
[10:49:03] <wrbtrader> it tried
[10:49:45] <wrbtrader> looking for reentry
[10:51:16] <squiggles> ES has R area of 0950 to 0952 as ceiling at the moment
[10:51:58] <wrbtrader> Gold GC volatility slowly increasing
[10:53:53] <wrbtrader> Long Emini ES @ 1657.50 -> large size
[10:54:22] <wrbtrader> 10 contracts
[10:55:02] <wrbtrader> had that entry signal appeared lower instead of higher...I would have increased my position size to around 30 contracts
[10:55:24] <wrbtrader> Emini ES futures volatility spike
[10:56:13] <wrbtrader> WRB pt1 reached
[10:57:18] <wrbtrader> Exited all Emini ES Long @ 1659.25 --> + 1.75
[11:19:29] <wrbtrader> Shorts Emini ES @ 1657.50 -> large size
[11:20:00] <wrbtrader> 10 contracts
[11:22:31] <wrbtrader> Covered all Emini ES Short @ 1656.50 --> + 1
[11:22:38] <wrbtrader> WRB pt1 reached
[11:23:10] <wrbtrader> another trade the did not merit position size increase :(
[11:28:24] <wrbtrader> volatility declining some more and the range is getting tighter
[11:39:51] <wrbtrader> geeesh...what killed the volatility in the Emini futures
[11:40:37] <wrbtrader> Many key markets in a tight trading range on low volatility...insync
[11:40:46] <wrbtrader> I'm now expecting a volatility SPIKE here soon.
[11:41:41] <wrbtrader> Shorts Emini ES @ 1656.75 -> large size
[11:42:02] <wrbtrader> 25 contracts
[11:47:20] <wrbtrader> Emini ES futures volatility slowly increasing
[11:58:16] <squiggles> .
[12:07:13] <MattyR> Another spike in crude
[12:12:58] <wrbtrader> Emini ES volatility is so low (contracted) that it has killed the WRB pt1 reward :(
[12:13:32] <wrbtrader> if it shows up...it'll be 1 - 2 ticks only due to what Emini ES has been doing the past 10 minutes
[12:14:04] <wrbtrader> In contrast, when I first open the trade...the potential was around 4 - 8 ticks
[12:14:24] <wrbtrader> That's how volatility contraction can kill a trade potential AFTER entry
[12:28:16] <TigermanTrader> take care see all next week
[12:36:32] <wrbtrader> increasing volatility in the Emini futures
[12:39:10] <wrbtrader> Covered all Emini ES Short @ 1658.50 --> - 1.75
[12:40:18] <wrbtrader> Today is not like yesterday and the day before...
[12:40:28] <wrbtrader> We had the volatility to recover from loses
[12:40:51] <wrbtrader> Today's volatility is back to normal as in "low volatility".
[12:41:19] <wrbtrader> Will be almost impossible to recover unless "unexpected" volatility shows up via a breaking news event :(
[12:52:29] <wrbtrader> Shorts Emini ES @ 1657.25 -> large size
[12:52:40] <wrbtrader> re-entry
[12:54:02] <wrbtrader> I'm obvious catching a pivot area but I don't see it :(
[12:54:51] <wrbtrader> 1658.00
[13:05:35] <canaandog> have a good weekend, everyone
[13:55:31] <wrbtrader> Long Emini ES @ 1659.00 -> large size
[13:55:52] <wrbtrader> -1.75 on the prior Short
[13:56:15] <wrbtrader> switching to the higher time frame chart...
[13:56:32] <wrbtrader> lower time frame in this heavily contraction in volatility is killing me today
[13:56:46] <wrbtrader> 20+10 contracts
[13:57:05] <wrbtrader> Hopefully I can keep this trade for the remainder of the day.
[13:57:20] <wrbtrader> So far such has not happen and I've been getting stopped out of trades
[14:01:07] <wrbtrader> need +4 points to right the ship...
[14:01:25] <wrbtrader> Not a big deal on normal or high volatility trading day
[14:01:55] <wrbtrader> A big problem on a trading day like today...tight trading range on very LOW volatility
[14:02:29] <wrbtrader> Emini ES futures snap back to the 1658.00 price area
[14:03:06] <wrbtrader> It will be an easy price area to trade on Monday due to it developing into a pivot area today
[15:31:55] <wrbtrader> Exited all Emini ES Long @ 1660.00 --> + 1
[15:39:23] <wrbtrader> Long Emini ES @ 1659.50 -> large size
[15:39:35] <wrbtrader> 30 contracts
[15:58:16] <wrbtrader> Exited all Emini ES Long @ 1662.00 --> + 2.5
[15:59:09] <wrbtrader> Long Emini TF futures @ 1036.90 large size 4+4 contracts
[15:59:54] <wrbtrader> Long Emini ES @ 1660.75 -> large size
[16:00:19] <wrbtrader> 25 contracts
[16:05:28] <wrbtrader> Exit 1/2 Emini TF futures @ 1037.20 +0.30
[16:07:49] <wrbtrader> Exit remainder Emini TF futures @ 1037.40 +0.50
[16:08:03] <wrbtrader> Exited all Emini ES Long @ 1661.50 --> + 0.75
[16:08:27] <wrbtrader> doesn't look like it wants to go anwhere further
[16:28:28] <wrbtrader> After a rough start to the trading day...primarily due to the unexpected incredible low volatility tight trading range...
[16:28:53] <wrbtrader> I was able to escape with a profitable day with a few dollars in my pocket
[16:30:08] <wrbtrader> 10am - 2pm est was the killer low volatility tight range especially more so in Emini ES futures
Session Close: Fri Aug 23 17:16:50 2013

-------------------------

##TheStrategyLab (located on the Freenode IRC network) is free and is a serious professional trading chat room involving WRB Analysis in which any trader (position trading, swing trading, day trading) can use the chat room to post their trades or commentaries about stocks, futures, exchange traded funds or forex currencies. Simply, you don't need to be a client of TheStrategyLab.com to use the chat room nor do you need to be a price action trader (no indicators) because some members use indicators while others do not. Yet, the only requirement is that you want to learn WRB Analysis.

Therefore, we welcome all traders that want to learn about WRB Analysis regardless if they are beginners or experience traders in price action trading.

The purpose of ##TheStrategyLab is that it's designed to be a trade journal for documentation purposes only so that members can have a time stamp archive of trades and market commentaries of each trading day so that they can better understand their broker statements from one trade to the next trade when they review their performance numbers on any given trading day.

Further, members are not obligated to educate nor help other members but members are encourage to ask questions about any trades or market commentaries that's posted by others because sometimes the answers contains useful trading tips.

In addition, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different trade signal methods along with different opinions about the market...debates or arguments can easily flare up without moderating. In addition, our presence in the chat room is to ensure it's a spam free chat room during trading although these archived chat logs may contain advertisements for guest visitors.

Commonly discussed trading instruments from stocks, futures, exchange traded funds and forex currencies:

Image CME Emini Futures EMD, ES and NQ

Image ICE Emini TF Futures (formerly CME ER2)

Image CBOT mini-sized Dow Futures YM

Image Eurex Index Derivatives (futures) DAX and DJ Euro Stoxx50

Image Eurex Fixed Income Derivatives (futures) BUND, BOBL and Schatz

Image Euronext Futures FTSE-100 and CAC-40

Image CME Futures EuroFX 6E and EC

Image Treasury Futures T-Notes ZT, ZN, ZF and T-Bonds ZB

Image Forex Currencies Gbp/Usd, Eur/Usd, Eur/Yen and Usd/Cad

Image Exchange Traded Funds VXX, DIA, IWM, QQQ, SPY, BGU, FAS, FAZ, TNA, OIH, XLE and GLD

Image NYMEX Energy Futures Light Crude Oil CL, Brent Crude Oil BRN, e-miNY QM and Natural Gas NG

Image COMEX Metal Futures Gold GC, mini-Gold YG, Copper HG and Silver SI

Image S&P CNX NIFTY Futures

Image Hang Seng Index Futures HSI and mini-Hang Seng MHI

Also, to prevent the usual mix-up about our different chat rooms, most of our fee-base clients do not use chat rooms just like most retail traders do not use chat rooms. Yet, the few clients that do use chat rooms, our fee-base clients are discussing market analysis or price action only trade signals via concepts from our strategies in the private chat rooms called ##VolatilityTradingTSL or ##WRB_Analysis and they're not allowed to do such in ##TheStrategyLab.

Reminder, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that ##TheStrategyLab is a serious professional price action trading chat room and we expect members to act professional. Also, these logs may have been edited (rarely) to remove any messages that a member has complained to me via private message that they consider a particular commentary to be inappropriate, offending or too far in the off topic area that's a distraction when the commentary was posted.

Note: chat logs saved (timestamp) from Québec, Canada in eastern daylight time

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/wide range bar analysis)
Price Action Trading
Image@ http://twitter.com/wrbtrader or http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
intradaystrategies@yahoo.com
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


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